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New Delhi, India – July 16, 2023 – Aye Finance, a leading fintech lender, has allocated Rs 100 crore for its Shakti Loan program. The program is designed to provide credit to women-led micro-enterprises.
The Shakti Loan is a non-collateralized loan that is available to women who have a valid Aadhaar card and a bank account. The loan amount can range from Rs 5,000 to Rs 50,000, and the repayment period is up to 36 months.
Aye Finance is targeting to reach 10,000 women with the Shakti Loan program. The company is working with partners such as the National Bank for Agriculture and Rural Development (NABARD) and the Self-Employment Women’s Association (SEWA) to reach these women.
“We are committed to providing financial access to women entrepreneurs,” said Niraj Kaushik, Deputy CEO of Aye Finance. “The Shakti Loan is a way for us to support women who are looking to start or grow their businesses.”
The Shakti Loan is a welcome initiative by Aye Finance. It will help to address the gender gap in access to credit in India. The program will also help to empower women entrepreneurs and contribute to the economic growth of the country.
Here are some additional details about the Shakti Loan program:
- The interest rate on the Shakti Loan is 12% per annum.
- There is no processing fee for the loan.
- The loan can be used for a variety of purposes, such as working capital, business expansion, and purchase of assets.
- The loan is repayable in monthly installments.
To apply for the Shakti Loan, women entrepreneurs can visit the Aye Finance website or contact the company’s customer care team.
